Las Vegas, NV -- (SBWIRE) -- 09/18/2013 -- Plug Power Inc (NASDAQ:PLUG) declared the closing of common stock Public Offering. The common stock as well as Full Exercise of Overallotment Option is closed.
PLUG earlier signed agreement to issue 18,600,000 common stock shares to Cowen and Company. The price of the share was set at $0.01 per share. The underwriter had option to acquire additional 2,790,000 Common Stock. The company stated that it expects $9.1 million proceeds from these shares.
Plug Power Inc. is a company that supplies technology pertaining to alternative energy. The company designs, develops, commercializes and manufactures fuel cell systems. The target market of PLUG is industrial off-road market. The company is focusing its R&D on proton exchange membrane, fuel cell and fuel processing technologies.
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